Aug 22, 2007 9:04 am US/Central
Lady Bird Johnson Leaves Estate To Daughters
Complete Inventory Of Assets Could Take Years
(AP)
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Luci Baines Johnson and Lynda Johnson Robb deliver their remembrances at the July 15, 2007 funeral service for their mother, Claudia "Lady Bird" Johnson.
Lady Bird Johnson's will calls for her entire estate to be left to her two daughters, Lynda Johnson Robb and Luci Baines Johnson.
Claudia "Lady Bird" Johnson, the wife of former President Lyndon B. Johnson, died last month at the age of 94.
Johnson, noted for environmental conservation efforts, also built a business empire with her own money, including multimillion-dollar holdings in radio and TV stations, banks and real estate. She held stock in the LBJ Holding Co., which comprises securities, including stocks and bonds, and some real estate and private equity.
Her will, which was filed Monday, directed that all debts and taxes be paid by the Claudia T. Johnson Lifetime Trust.
The filing did not include an inventory and appraisal of her estate. Walker Arenson, an Austin attorney, said that's normally required within 90 days, though extensions are usually granted when estate taxes are involved.
"It could be two years before we get a public inventory," he said.
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(© 2007 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)
SLIDESHOW: Life Of Lady Bird
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